In a statement filed on Bursa Malaysia, the firm said there was no possible explanation to account for the UMA and increase in share price and volume of activity.

“There is no corporate development relating to the group’s business including those in the stage of negotiation or discussion that has not been previously announced that may account for the trading activity.

“There is no rumour or report concerning the business and affairs of the group that may account for the UMA,” it said.

SMRT was trading at 22 sen, up three sen before trading was halted from 4.07pm today and will resume at 9am tomorrow.